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Showing 20 of 46 results by The_honey_bager
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Board Trading Discussion
Re: Delta Exchange - Anyone use it?
by
The_honey_bager
on 22/05/2022, 11:36:23 UTC

Delta Exchange has very rare features in the derivatives market. As an example, you can write secured cash puts options there. This is not available on the biggest exchanges (Binance, FTX) outside the US afaik.

This can hardly be called an advantage of the exchange. This is a very specific type of trading and most will never use these derivatives trading tools. The same dubious advantage as trading with x200 leverage. Yes, there is, but few people are interested in it. The same is true with these options functions.

I'm sorry, comparing trading with x200 leverage on future with writing secured cash puts options make not sense. Especially when dealing with Bitcoin and you know what you are doing. 

FYI options trading is harder to understand at the beginning than future trading. That's the main reason why it is not as popular as future. However, it offers many advantages over future in many situations. Many veteran traders are only trading options. Maybe less in the crypto because the market is very young.   
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Re: Delta Exchange - Anyone use it?
by
The_honey_bager
on 21/05/2022, 11:17:51 UTC
Yeah I made a mistake with the name. I forgot it was called EtherDelta and the Delta made it should similar especially since it also had an “E” in the half of the name.

The reason why I want to use it is mostly due to the options.



You could also check Deribit.com for bitcoin options trading that are in business since 2016. If you are in the US, there is LedgerX bought by FTX and now part of FTX.us for Americans only. LedgerX is a regulated exchange fwiw.
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Re: Delta Exchange - Anyone use it?
by
The_honey_bager
on 20/05/2022, 23:06:16 UTC
Just wondering if anyone has any experience with delta.exchange? The volume seems low but not too low. KYC is required but just a verified phone number.

it doesn't have any advantages to opt for this exchange and refuse such well-known exchanges as OKEX or KuCoin, which have EVERYTHING better. And also no KYC. I just don’t see the point in this, especially since this is a derivatives exchange.


- OKEX is not available in every jurisdictions.

- You can't trade options on KuCoin

Delta Exchange has very rare features in the derivatives market. As a example, you can write a secured cash puts options there. This is not available on the biggest exchanges (Binance, FTX) outside the US afaik.
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Board Trading Discussion
Re: Delta Exchange - Anyone use it?
by
The_honey_bager
on 20/05/2022, 19:08:46 UTC
And how is it critically different from other exchangers then?

It is primary a derivative exchange and it is the only crypto native exchange as far as I know that you can trade options on Bitcoin with stablecoin outside the US. They have also a few other unique features.

I'm also in the process of reviewing this exchange to see if it would be worth opening a account for myself. They seems secure and well manage but they are not regulated and they exist since 2018 if I'm not mistaken.
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Board Trading Discussion
Re: Which exchanges are the best for selling puts and calls options on Bitcoin?
by
The_honey_bager
on 16/05/2022, 23:10:38 UTC
My questions is for those that are already trading options successfully: Which exchange is currently the best for options?
Binance and FTX may be the right choice.
This article may be helpful for you to get started in Binance options.
https://www.binance.com/en/blog/futures/how-to-get-started-with-binance-options-421499824684900531

Thanks but as I said in my previous post. It is not possible to sell put and covered call on Binance. You can only buy options.

I need to be able to buy and sell options for my strategy.

One exchange that I know is offering that is LedgerX. However, they have been bought by FTX for their US customers only (I'm not american). FTX.com that is opened for international traders also offers options trading but it seems a different options trading platform and I'm not sure if it is possible to sell options there.

Anyway, I will check everything into details soon. The next exchanges to check on my list are FTX.com, Deribit, Delta and OKEX.     
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Re: Which exchanges are the best for selling puts and calls options on Bitcoin?
by
The_honey_bager
on 16/05/2022, 20:39:16 UTC
This is a update on my research.

FYI Binance only offer to buy Options. You cannot sell (or write a Options) on this exchange.

I will post more info as I go with my personnal research in case someone in the same situation as me in the future read this thread.
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Re: Which exchanges are the best for selling puts and calls options on Bitcoin?
by
The_honey_bager
on 03/05/2022, 19:08:48 UTC
I agree with everyone here that Binance is maybe the most safe crytpo CEX to deposit funds on for trading. I trusted also FTX since it is now the 2nd crypto exchanges by volumes and they have top notch security as Binance.
No centralized exchanges should someone have a rest of mind that it is safe, Binance is centralized and require full verification which you will need to provide your ID documents and other personal information. If your data is leaked (which is possible), is that safe? Data leak is common on exchanges. Also best to not leave your inactive coins on Binance or other exchanges, move it to a reputed noncustododial wallet instead which you have full control over. Any centralized exchange can be hacked at anytime.

I don't know the other ones very much and how much they can compare outside of the safety of the deposit. I would appreciate any additional insights on that. 
According to Binance, FTX is the third ranked recently while Coinbase Pro is the second ranked.


1. I know full well that Bitcoins is best hodl out of exchanges and a lot more secure when control by a personal private key. However, a derivative market on a CEX is needed to trade options. I heard some projects are working to offer derivatives on a DEX in a near future with lightning but the software is not there yet.

2- FWIW FTX is actually 2nd by open interest & trade volume on CoinGecko for the derivatives market:

https://www.coingecko.com/en/exchanges/derivatives     
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Re: Which exchanges are the best for selling puts and calls options on Bitcoin?
by
The_honey_bager
on 03/05/2022, 15:44:28 UTC
Binance is one of the right choices for you friends because it already provides many features and transactions that are safe and very fast. as of now binance is the number one crypto exchange in the world,  Smiley

Thank you for all the answers received so far. Smiley

The exchanges for options trading that I have seen mentionned the most online (outside of this thread) are Deribit, Delta, Binance, FTX and LedgerX. Apparently, options trading on Bitcoin can even be done on the CME (traditional exchange).

I agree with everyone here that Binance is maybe the most safe crytpo CEX to deposit funds on for trading. I trusted also FTX since it is now the 2nd crypto exchanges by volumes and they have top notch security as Binance.

I don't know the other ones very much and how much they can compare outside of the safety of the deposit. I would appreciate any additional insights on that. 


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Topic OP
What are the best exchange for selling puts and calls options on Bitcoin?
by
The_honey_bager
on 02/05/2022, 23:33:26 UTC
I learned a few things on options trading in the last few days and getting premium on options trading seems really nice. I will test that in the following weeks.

My questions is for those that are already trading options successfully: Which exchange is currently the best for options?
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Board Bitcoin Discussion
Re: Smart contracts and NFTs on top of the Bitcoin blockchain
by
The_honey_bager
on 11/02/2022, 13:11:55 UTC
...Both projects have their own coins: STX (Stacks) and SOV (Sovryn).

We need something without other coins. The reason? If these coins / this network don't exist anymore ... so your NFTs won't. But Bitcoin will exist ... always.
We don't need more coins in the market. There are no reasons to create more.
This is the first time hearing about those coins STX and SOV and if they will become popular then wait for thousands of other coins built just for the NFT market. Note that those coins doesn't represent independent networks having their own blockchains.
I would always recommend the actual networks and try to develop them .

AFAIK Stacks has his own blockchain that is tied somehow to the Bitcoin blockchain to secure everything. Their coins (STX) can also be mined by Bitcoin miners for extra profit if I understood correctly.

I think Sovryn has his blockchain too like Stacks but I not 100% sure. I will have to double check that..
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Topic OP
Smart contracts and NFTs on top of the Bitcoin blockchain
by
The_honey_bager
on 11/02/2022, 12:07:16 UTC
I have done some research yesterday about the current state of smart contracts and NFTs on top of the Bitcoin blockchain.

So far I found two projects that are bringing smart contracts in the Bitcoin space: Stacks and Sovryn.

Stacks seems ahead of Sovryn regarding his development and funding at this time. I even found a functionnal NFTs marketplace in the Stacks ecosystem. Both projects have their own tokens: STX (Stacks) and SOV (Sovryn).

I'm curious about the technical and financial side of Stacks and Sovryn. Therefore, I would love to hear your opinions on both those projects.

I would also like to experiment with NFTs tied to Bitcoin and I'm not sure which marketplace is the best and the most popular. Any tips on that would be very appreciated.
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Topic OP
Best taking profit techniques to maximize gains out of the upcoming blow-off top
by
The_honey_bager
on 06/09/2021, 20:28:21 UTC
I'm planning to follow what's left of the bull run with a ATR based trailing stop.

I heard some traders prefer to sell a % of their bags based of the % in the price increase.

Anyway, what's your plan for the upcoming weeks and months? 
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Board Trading Discussion
Re: Grayscale bought BTC for $ 690M in the last 100 days
by
The_honey_bager
on 12/09/2020, 14:23:27 UTC
From what I heard, this has done very little to move the price upward because they mostly buying Bitcoin OTC directly from miners and not from spot exchanges because of the slippage.
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Board Trading Discussion
Re: The recent bitcoin fall was predicted by whale Joe007 on September 1
by
The_honey_bager
on 03/09/2020, 10:36:16 UTC
I have seen a similar thread this week created specifically to shill this guy trading signals. This is most likely a scam.
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Board Trading Discussion
Re: I still believe only 5% earn and 95% lose money in crypto trading.
by
The_honey_bager
on 31/08/2020, 11:49:24 UTC
It's seems like the purpose of your thread is to promote the trading signals of this trader.
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Board Trading Discussion
Merits 4 from 1 user
Re: Need help finding the right swing trading strategy to make my first bot.
by
The_honey_bager
on 25/08/2020, 21:14:49 UTC
⭐ Merited by suchmoon (4)
Swing trading bots are not an easy thing to make, it is not easy not because the coding part of it is hard, but the unexpected stuff are well... unexpected so you can't really code for something you do not expect which is really making you get bad results.

I wish it was possible, and it is actually possible to make one and as long as nothing unexpected happens this could work out, but unfortunately crypto is not something you can't predict beforehand and since you can't predict it beforehand you can't code for it neither.

 
Well, afaik someone executing a winning and tested strategy with proper position sizing and money management should be prepare for the unexpected and losing trades on the long run. That's not what risk management is all about?

I never say I was more smart than anyone else here but I like everything about this challenge. Even in the event I would fail coding a profitable bot, I'm sure sure I will enjoy the ride and gain some useful knowledge.

By the way, as I said before, I will update the tread about my progress as long as there is enough interest about it. However, I never said that I will publicly share the code of my bot (if I suceed making one). 

 
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Re: Need help finding the right swing trading strategy to make my first bot.
by
The_honey_bager
on 25/08/2020, 19:08:42 UTC
Sorry to ruin your dreams, my friend, but if you have been only trading for 3 weeks there are weak chances you're gonna create a profitable bot.
My recommendation for you is to continue trading on demo accounts until you are profitable for a few months. It is better to spend fake money for your "tuition" than your hard-earned money. Although the later will teach you much more in shorter time, but could also ruin you and your trading career.

There are many tools to use when performing technical analysis. You should use ones that you know inside and out. Put emphasis on the psychology behind the indicator.

Hope this helps. GL! Smiley

Thanks for your concerns.

That's true that my trading experience is limited at this point but I have taken a few courses on trading and money management before that. I have also some experience coding and automate stuff in Python. As I said before, I'm planning to backtest the strategy carefully before manually live testing it with real funds. Making the bot is a personnal challenge. I'm not under any kind of pressure and that's the kind of thing I like to do.   
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Re: Need help finding the right swing trading strategy to make my first bot.
by
The_honey_bager
on 25/08/2020, 18:27:51 UTC
That is a great idea and an amazing ask, I also want to make sure I have a system where it could make me a billion dollars in cash, not in assets but pure cash, give me the biggest castle in the world, make me the president of the world and also help me with the immortality thing I am working on.

As you might imagine not everything is possible all at the same time, the world is not really all sunshines and rainbows, there is a thing called being realistic and I feel like what you are asking is so out of touch and so unrealistic is that I would think you could ask for a miracle to happen. There is no thing in the world that could simply just "make me money" and go away, it is not as easy as that, and this is just too much to ask from a simple software that you code.

I'm fully aware that trading bots need maintenance and don't just 'make money and go away'. I don't know why you think making a trading bot base on a basic trading strategy is so unrealistic when much more complex trading bots are being use in other markets (stocks, Forex, etc..) since decades. There are even third party platforms that are selling cloud based customizable trading bots since a few years in the crypto space like 3commas. 
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Re: Need help finding the right swing trading strategy to make my first bot.
by
The_honey_bager
on 25/08/2020, 13:07:26 UTC
A good starting point might be to have 2 strategies with opposing approaches, so you are attempting to trade during most market conditions;

eg. if you are using stochastics to devise a revert-to-mean strategy, if you can complement that with a good breakout strategy, your profitability will likely be greater...

Good luck, and this will be an interesting thread to follow if you post your live results.


For the short term, my goal is to keep it as simple as possible. As long as the strategy is profitable long term, I would be happy with that. So my next steps will be to backtest and manually live test the stochastics strategy on maybe 2 crypto pairs. If everything is good, I will start coding the bot.

From there, I'm planning to keep making more tests and tweaking the bot for better results. I think too that including a breakout strategy could be a good idea. I will check that out and probably test additional indicators as well to compare the results.

I will keep updating the tread with my progress as long as there is enough interest for it. Thanks!
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Re: Need help finding the right swing trading strategy to make my first bot.
by
The_honey_bager
on 24/08/2020, 16:20:34 UTC
Try to use Support and Resistance first with some momentum indicator just like stochastic rsi.

Following your suggestion, I searched for some stochastic rsi strategies and I found an interesting YouTube channel that are testing different basic strategies on the Forex market. The strategies that I have watched on the channel so far are tested with a risk/reward ratio of 1.5 a 100 times.

The one that is using the stochastic rsi indicator with the 200 EMA achieved pretty good results:

Success rate: 57%
Initial investement: $1000
Profit: 960$

https://www.youtube.com/watch?v=1W6ZsD6-Y1Q

I will do my own tests for sure on a crypto trading pair to make sure the strategy is really a winning one and can be apply on the crypto market.

Thanks again.